Ocado shares up after sales growth

Ocado Group

Last Updated at 17 Apr 2014, 11:30 ET *Chart shows local time Ocado Group intraday chart
price change %
350.20 p +
+16.20
+
+4.85

Related Stories

Shares in online grocer Ocado have jumped by a third after a jump in sales during 2011.

The firm, which mostly sells Waitrose goods, said that customer orders in the four weeks to Christmas jumped 22% from the previous year, to 405,700.

"We remain optimistic about continued sales growth," said chief financial officer Andrew Bracey.

Overall, sales rose 17% to £643m in the year to the end of November from the previous year.

Ocado's own-brand sales were up 88% in the four trading weeks to 25 December.

The average order size for the final quarter of the year was £109.40, as compared to £112.10 in the equivalent period in 2010.

Last year, Waitrose announced it would be expanding its online presence to within the M25 area, potentially threatening Ocado's own business.

Ocado was founded in 2001 by three former Goldman Sachs bankers.

Its shares floated at 180 pence in July 2010, but have since fallen to about 65p currently.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.